hang-fung-mandates-hsbc-for-highyield-bond

Hang Fung mandates HSBC for high-yield bond

The $150 million bond offering could mark the first high-yield transaction in two months.
Hang Fung Gold Technology HFG, the Hong Kong jewellery manufacturer and retailer, has mandated HSBC to manage a seven-year $150 million senior unsecured bond offering. This will be the first high-yield G3 issue since Mobile 8 priced a $100 million deal on August 9 via Lehman Brothers.

HFG's roadshow will take place in Singapore and Hong Kong over the next week, and end in London on October 9.

The bonds are rated Ba3 by MoodyÆs, while Standard and PoorÆs stated in a report released yesterday that it had assigned the issue a BB rating. ôThe long-term credit rating reflects HFGÆs fair underlying credit quality, which is affected by the execution risks associated...
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